Where The Hunt For Yield Led----Emerging Market Carnage, Again!

Let’s be clear: It’s not just Argentina. But Argentina is the most elegant example. The exodus of the hot money from emerging markets where cheap dollar-debts were used to fund pet projects and jack up leverage is – once again – in full swing. Cheap dollar-debt in emerging markets is an old sin that, like all old sins, is repeated endlessly. The outcome is always trouble. But during the act, it sure is a lot of fun for everyone.....

https://wolfstreet.com/2018/06/18/chasing-yield-during-zirp-nirp-evidently-starved-human-brains-of-oxygen/

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